BibliU, the leading provider of digital learning platforms for higher education institutions, has announced that it has raised the second and third tranches of Series B funding of £4.7M ($5.5M) to continue its expansion across the UK and US.
The second and third tranches of Series B funding follow an initial £12M ($15M) that it raised in June 2022. The new injection has been delivered by both current and new private investors including Sparkmind, Stonehage Fleming, Crowdcube Private Angels, Wealth Club, OIC, and Oxin, as per the announcement.
The investment will enable BibliU to expand its services across the US and UK markets, develop new products, secure additional publisher partnerships, and invest further in sales and marketing, said the company.
Founded in 2014 and spun out of the University of Oxford Innovation Fund, BibliU is committed to defining the future of higher education by democratising content accessibility and delivering a digital-first approach to content. It is designed to address the unique requirements of students, faculty, libraries and publishers, with its learning enablement solution featuring digital content management, workflow automation, and analytics. With BibliU, colleges and universities can deliver on the promise of digitalisation, guaranteeing all students have first-day access to the learning content they need.
Commenting on the development, BibliU’s Co-Founder & CEO, Dave Sherwood, said,
“This latest round of investment in BibliU, from a hugely experienced group of investors, will only serve to further our mission to provide high-quality, accessible and vital learning resources at an affordable cost. This funding will help facilitate the business’s continued growth by developing new technology that will further streamline processes for publishers and academic institutions and improve the learning experience and outcomes for all students, regardless of their individual needs or circumstances.”
Alex Davies, CEO & Founder, Wealth Club, said,
“BibliU is a great example of a company solving long existent problems with modern day tools. It allows hundreds of thousands of students to access course materials at little or no cost, helping to improve the accessibility of education while also improving learning outcomes. This inturn has delivered great commercial success, with a proven product in a growing market and the pandemic has only accelerated demand. With success in both the UK and the US, as well as the support of an impressive group of investors, it comes as no surprise that the company has proven popular with our clients who have invested £1.2 million into the business.”
During its 2021 fiscal year, BibliU achieved 236 percent growth in recognised revenue and, in the past year, has fostered partnerships with 15 publishers, taking its total to 3,200, and 114 universities. The firm has also been included in the Tracxn Emerging Startups of Higher Education Tech for the past two years, and last year was named the winner of the Scale-Up category at the EdTech X All Stars Startup Awards.